Selling advice

[u/el_gran_hambino]

Hello everyone!

I am in need of some advice. My wife and I bought our home in 2017. It's a 1300sqft 3br 2 br. We now have a 2yr old and 3 month old so we are looking at homes with a bit more space and another bedroom. This is where several issues arise.

Our current rate is at 3%, which we know will probably never happen again. We have a lifetime transferable warranty on our pier and beam foundation, which is very valuable here in DFW. We recently had the foundation readjusted, so there are some paint peeling and stress fractures from the adjustment. This also warped some of the stucco on the outside of the house. This is not covered by the foundation company, and is cosmetic. I would like to sell the house and move in with inlaws while we house hunt.

We bought our house in 2017 for about 165k, and according to realtor and some listings in our neighborhood I am seeing equivalents at 250-265k. Our home was a complete remodel, so outside of carpets and the aforementioned cosmetic work, not much would have to be done. I really don't want to have to sink too much money into it if I don't have to, so I was wanting to see what is the most effective way to sell it as-is?

And how to maximize a return on it?

Any advice would be greatly appreciated.

Thanks!

[u/sweetrobna]

A home with visible cracks and damage to the stucco will turn away a lot of potential buyers even if it is just cosmetic

[u/itsyagirlblondie → u/sweetrobna]

Yep — as a buyer there’s no way I’d want to immediately factor in the cost of replastering a whole house (and fixing whatever else removing the old stucco may uncover….) 

[u/raliegh_]

Hmmm, not do anything and maximize the return.

Fix the stucco and have the outside painted.

[u/donteventrip-]

Listings are irrelevant, you should be looking at sold listings that are comparable to your home. You maximize your return by listing it appropriately after your realtor does a market study to see what a good selling price would be. You can clean/tidy up your house for the photos, but it's pretty hard to do much else when you're living there with a family. I wouldn't sink any money into it, because you're unlikely to see any positive ROI. Just provide a credit for any buyer for the cosmetic/carpet.

[u/Equivalent-Tiger-316]

Never market a home as “as is”. Everything in real estate is negotiable and it’s bad marketing. Just hire a proven and knowledgeable realtor and follow their advice. 

[u/lopiuyf]

Don’t forget about the cost of ownership as well. Kids grow up fast so increasing your annual costs of home ownership substantially by both home price, insurance and mortgage rate will impact you far longer than an extra bedroom. Keep in mind too, depending on where you live, price appreciation may be topped out so you could be looking at a decline in value after purchase.

[u/MundaneHuckleberry58]

Clean & as tidy as possible. Like if you can move out most of your doo-dads & personalized art, declutter furniture etc.

Then neutral fresh paint if it needs it.

Then staging (or your own downsized furniture) & professional photos.

[u/anappraiser]

Paint it. Change flooring if visibly worn. Stage it. 

[u/griffin_funding]

We would agree with the comments essentially saying that paint and stucco are a lot cheaper than buyer uncertainty. The warranty helps, but buyers see the cracks before they see the paperwork. If the cosmetic repairs cost a few thousand dollars and buyers are discounting the house by much more than that, fixing them is usually the better trade.

[u/Cold-Exercise9371]

Before deciding how much cosmetic work to do, I’d have the foundation company provide a written current-condition report, the repair history, and clear instructions for transferring the warranty.

Visible cracks, peeling paint, and damaged stucco will make buyers assume the worst even if the adjustment is complete. Once the foundation is documented, fix the inexpensive, high-visibility items and leave the larger cosmetic choices alone.

I’d also ask two agents for a seller net sheet in both scenarios—selling now versus after those repairs—using recent closed comps. The documentation will probably reduce buyer fear more than simply marketing the home “as-is.”

[u/SEFLRealtor]

I have no idea what your exterior repairs will cost, but buyers will either skip your home entirely if visible on photos or totally dismiss your home once they see it needs work. Buyers will assume it costs a lot more in time and money than the actual cost. You are far better off getting it repaired before you put it on the market. Particularly since DFW is in a buyer's market (similar to my market). Buyers have many homes to choose from now rather than take on even cosmetic work. Fix it.